RS What I really want to do is help
a whole new generation of business
builders, particularly in areas where
they have the potential of creating
dominant businesses in what
we would call specialty fast casual.

We want to help them with two
concepts. We want to help them
with what Act III calls venture
management: venture support, not
venture capital. The second aspect
of Act III is what we call “
founder-friendly capital.” One of the things
I see over and over and over is that
entrepreneurs and business builders
get sucked onto the treadmill
of continually fnancing. So when
Act III makes an investment, we
commit to all the capital that a
company needs for all the future
rounds.

DL For me, an entrepreneur is someone who can combine the opportunity and the execution. There are
a ton of people who are incredible
dreamers but they can’t execute.

There are amazing people who can
execute but they can’t see the
opportunity. You were able to combine seeing an opportunity and then
acting on it. That’s what defnes an
entrepreneur.

RS I call myself a cynical optimist.

By that I mean I powerfully believe
in the opportunity. I can see it
and taste it. And because I see that
opportunity and love it and respect
it, I am cynical. I’m cynical about
the number of ways in which you
could get upset. And my job is
to execute on that opportunity well
and protect that vision that I had.

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